By Tali Rackner
Norfolk, Va., April 6 – Barclays Bank plc priced $1.34 million of trigger phoenix autocallable optimization securities due March 31, 2021 linked the common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8% if Facebook stock closes at or above the trigger level, 62% of the initial level, on an observation date for that month.
The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on any monthly observation date after one year.
The payout at maturity will be par plus the contingent coupon unless Facebook shares finish below the trigger level, in which case investors will be fully exposed to any losses.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | Facebook, Inc. (symbol: FB)
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| Amount: | $1.34 million
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| Maturity: | March 31, 2021
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| Coupon: | 8% per year, payable monthly if Facebook shares close at or above trigger level on observation date for that month
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| Price: | Par of $10
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| Payout at maturity: | Par plus contingent coupon if Facebook stock finishes at or above trigger level; otherwise, full exposure to index’s decline
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| Call: | Automatically at par if Facebook closes at or above initial level on any monthly observation date after one year
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| Initial index level: | $116.14
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| Trigger level: | $72.01, 62% of initial level
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| Pricing date: | March 29
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| Settlement date: | March 31
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| Agent: | UBS Financial Services Inc. and Barclays
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| Fees: | 2.5%
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| Cusip: | 06744K640
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